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Samsung confirms aggressive investment despite coronavirus

Tech giant confident it can take on TSMC and Apple in chips and smartphones

Samsung moved its annual shareholders meeting from southern Seoul to Suwon due to coronavirus concerns.   © Reuters

SUWON, South Korea -- Samsung Electronics said Wednesday it will stick with its aggressive investment plans despite the coronavirus outbreak, while reassuring shareholders that it can compete on both technology and image with its main rivals in chips and smartphones.

CEO Kim Ki-nam said the company has the technology to challenge Taiwan Semiconductor Manufacturing Co., which controls about half of the global chip foundry market. The foundry business refers to the production of chips designed by other companies.

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